TOYOTA FORMS NEW U.S. FIRM TO MARKET FORKLIFT TRUCKS

TOKYO―A million dollar company has been jointly organized by 3 firms in Los Angeles for the purpose of both satisfying the booming demand for Toyota forklift trucks and making more after service available. It will open for business November 1st.

Toyota Industrial Trucks U.S.A. Inc. was recently capitalized by Toyota Motor Sales Company (40%), Toyoda Automatic Loom Works (40%), and Toyota Motor Company (20%). President of the new firm will be Mr. Yuzo Ichikawa, who is currently a director of Toyota Motor Sales.

The Industrial Vehicles Division of Toyota Motor Sales, U.S.A., Inc. was spun-off to form the core of the new company.

The basic objective of the move is to more effectively meet the strong demand for industrial vehicles, as well as to strengthen the sales network and after-service structure for forklifts.

At present, there are 78 sales outlets for Toyota forklifts in the U.S. (excluding Hawaii), and a present sales target of 300 units a month. The main items handled are 2-ton and 2.5 ton forklifts.

Some parts and components such as attachments for the forklifts, are procured locally in the U.S. Efforts are being made to increase the amount of local procurement.